Canopy Growth Shares Why It Got into U.S. CBD Beverage Game

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<![CDATA[Offering a different take on beverages such as beer, coffee and lemonade, brands are serving cannabis consumers with tetrahydrocannabinol (THC) and cannabidiol (CBD) in drinkable form.One of Canada’s licensed producers (LPs), publicly traded Canopy Growth, which has infused and sold beverages in Canada over the past year, is now bringing its beverages below the border to the U.S. It’s starting with flavored cans of sparkling water with 20 milligrams of CBD that it’s marketing under the Quatreau brand.“The North American market potential for CBD-infused beverages is extremely promising, and with the continued growth the industry is seeing, we know it has the potential to really disrupt other traditional beverage formats, from sparkling water and soda to beer, wine and spirits,” said Tara Rozalowsky, Canopy’s vice president of beverages and edibles.RELATED: THC-Infused Tonics Find Their Place in Cannabis Beverage Market in 2020Rozalowsky said Canopy sees the opportunity to enter the U.S. CBD beverage space due to its large size, experience manufacturing hemp products, ability to scale, and understanding of industry regulations.“Since the launch of Canopy’s first THC-infused beverage in Canada in early 2020, we held the No. 1 share position at 36.1% for overall sales in 2020,” Rozalowsky said. “Our Tweed, Deep Space and Houseplant THC-infused beverages were 3 of the top 5 SKUs [stock keeping units] in calendar Q4, and since the launch of Quatreau, our first CBD-infused beverage in Canada, it has maintained the No. 1 position in the CBD-infused beverage category overall.”Rozalowsky said Canopy sources its hemp from farmers in New York’s Southern Tier, Oregon and California, and that the company “will continue to work with those communities and select wholesalers in the market for future needs.”Canopy and Constellation Brands, the company that has a roughly 39% stake in Canopy and owns beverage brands such as Corona and…

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Source : Canopy Growth Shares Why It Got into U.S. CBD Beverage Game

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